Credit reports are crucial to demonstrating your financial health and creditworthiness. The information contained in credit reports are heavily relied upon when consumers apply for loans, credit, housing, insurance, and employment. Credit reports detail your debt and credit activity, credit limits, loan amounts, payment history, and lender information. The more positive your credit report, the […]
Category: Credit Report Errors
Can a Background Check Error Kill Your Job Opportunity?
Learning that there are errors in your background check report can be frightening and prevent you from being hired. However, genuine mistakes and inaccurate information in background check reports are quite common for many reasons and are usually correctible. When a background check reporting agency prepares reports, they cull information from multiple sources and public […]
How Can Consumers With Disabilities Avoid Identity Theft?
Identity theft is the most common form of fraud. Thieves gain access to personal and financial information to order credit cards, set up cellphone accounts, steal bank and tax return funds, make purchases, and much more. Unfortunately, the elderly and the disabled are frequent targets of identity theft due to their vulnerabilities and special needs. […]
Lawmakers Urging Visa and Mastercard to Better Protect Consumers
The Federal Trade Commission (FTC) reports that credit card fraud has become the most common form of identity theft, with 390,000 cases reported in 2021, and 118,191 in the first quarter of 2022 alone. However, a recent investigation by BuzzFeed News allegedly revealed that the two dominant credit card companies, Visa and Mastercard, do little […]
Can Credit Report Errors Lower My Credit Score?
Credit reports detail your financial history and include credit activity, payment history, loan amounts, and information on creditors. Positive information in a report shows your financially responsible. Each month, creditors supply updated information to credit reporting agencies (CRAs), Experian, TransUnion, and Equifax are the major ones, who use the data to compile an overall summary […]
What Is Predatory Lending?
Predatory lending practices are designed to benefit only the lender, not the borrower, and they prey on those who are less likely to have the financial resources to cover the loans. Unfortunately, predatory lending is also quite common and completely devastates consumers financially. Subprime mortgage, payday, and car loans are three industries where predatory lending […]